BUA Cement Plc stated in its audited results report on Wednesday that it aims to reward shareholders with a dividend distribution of N88.84 billion, or N2.6 per share, for the fiscal year 2021.
The suggestion came after a remarkable profits performance during the time, with a roughly one-fourth growth in revenue and a profit of N90.1 billion.
For the fiscal year 2020, BUA Cement paid a dividend of N2.06 per share.
In percentage terms, the corporation will pay stockholders a 25.6 percent higher dividend in 2021 than the previous year.
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“Dividends paid to shareholders will be subject to withholding tax at the relevant rate at the time of payment if authorized,” the board of directors stated in one part of the paper.
President Muhammadu Buhari opened the cement manufacturer’s new cement facility in Sokoto in January 2022. It will be capable of producing 3 million metric tons of cement per year.